Financial News
Hikvision falls on reports it could be added to U.S. blacklist on Chinese techExternal Link

Shares of China video-surveillance firm Hangzhou HIK Vision Digital Technology Co. fell nearly 6% in Shanghai on Wednesday after reports the U.S. was considering adding the company to a blacklist. Citing sources,The New York Times said U.S. officials may look to punish the Chinese company for its role in the monitoring and detention of a largely Muslim ethnic minority in the country's northwest region of Xinjiang. If the ban goes through, the Commerce Department would force American companies to get approval to sell components to Hikvision. Bloomberg reported that U.S. officials were looking to add as many as five Chinese video surveillance firms to a blacklist. Trade tensions got small relief Monday by reports that the Trump administration will offer 90-day exemptions for some U.S. companies doing business with Huawei Technologies.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Wed, 22 May 2019 06:05:06 GMT
West Virginia Online PowerBroker
Elon Musk exercises Tesla options for 175,000 fresh sharesExternal Link

Tesla Inc. Chief Executive Elon Musk exercised options on 175,000 shares in the automobile company, adding to his stake at prices less than one-third the going rate. Musk's options on more than 5 million Tesla shares matured years ago, and he previously exercised more than 500,000 options at a lower price. According to a filing with the Securities and Exchange Commission, Musk exercised the fresh shares Monday at a price of $31.17, paying the cost of exercising the options -- nearly $5.5 million -- as well as the taxes without selling other shares. Musk still has access to about 4.6 million vested options, according to the SEC filing, and they expire in a little more than three years. Before Monday's option exercise, Musk owned 19.5% of Tesla stock, according to FactSet. Tesla stock closed Tuesday at $205.08, after declining about 29% in the past 12 months.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Tue, 21 May 2019 22:13:01 GMT
West Virginia Online PowerBroker
Oil prices down as API data reportedly show an unexpected weekly climb in U.S. crude supplyExternal Link

The American Petroleum Institute reported late Tuesday that U.S. crude supplies rose by 2.4 million barrels for the week ended May 17, according to sources. The API also reportedly showed a stockpile increase of 350,000 barrels in gasoline, but distillate supplies fell by 237,000 million barrels. Inventory data from the Energy Information Administration will be released Wednesday. The EIA data are expected to show crude inventories declined by 2 million barrels last week, according to a survey of analysts conducted by S&P Global Platts. It also forecast a supply climb of 1 million barrels for gasoline and a decline of 1 million barrels for distillates. July West Texas Intermediate crude was at $62.99 a barrel in electronic trading, down from the contract's $63.13 settlement on the New York Mercantile Exchange.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Tue, 21 May 2019 20:45:32 GMT
West Virginia Online PowerBroker
Express names Timothy Baxter its new CEOExternal Link

Express Inc. said Tuesday its board of directors has appointed Timothy Baxter the company's chief executive officer, effective June 17. Baxter succeeds Matthew Moellering, who has served as interim president and CEO since January. Moellering will remain with Express as executive vice president and chief operating officer. Shares of Express rose 1.5% in the extended session, after ending the regular trading day up 2.4%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Tue, 21 May 2019 20:27:23 GMT
West Virginia Online PowerBroker
Urban Outfitters stock wobbles after earnings beatExternal Link

Urban Outfitters Inc. shares were volatile in the extended session Tuesday after the retailer topped Wall Street estimates for the quarter. Urban Outfitters shares, which had been up as much as 5% after hours, were last down 1% following a 0.2% rise to close the regular session at $27.00. The company reported first-quarter net income of $32.6 million, or 31 cents a share, compared with $41.3 million, or 38 cents a share, in the year-ago period. Revenue rose to $864.4 million from $855.7 million in the year-ago quarter. Analysts surveyed by FactSet had forecast earnings of 25 cents a share on revenue of $854.7 million. Urban Outfitters also announced a subscription rental service for woman's clothes called Nuuly. Subscribers will pay $88 for a six-item box per month drawing from Urban Outfitters and third-party brands.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Tue, 21 May 2019 20:24:51 GMT
West Virginia Online PowerBroker